MTN Revises 2016 Investment Capital By 50%

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SOUTH Africa’s MTN Group said on Thursday that it had revised its capital spending in its home market up by 50 per cent to 12 billion rand ($756 million) in 2016.

In a statement in Johannesburg, the mobile operator said the aim was to improve infrastructure and fund acquisitions.

MTN had said in March while releasing its annual results that it would spend 8 billion rand in capital expenditure.

The firm had spent 11 billion rand on capital expenditure in its South African in 2015.

Meanwhile, to help reduce challenges with cattle grazing and the judicious use of land across Nigeria, MTN Nigeria has launched the MTN Livestock Tracking Solutions (LTS) to assist herdsmen in monitoring and tracking their livestock, while the MTN Mobile Electricity will provide affordable electricity to rural community dwellers.

These solutions will help reduce the incidence of wandering cattle and provide electricity to entrepreneurs and rural dwellers. The mobile electricity solution in partnership with Nova-Lumos will bring clean, modern and affordable electricity to MTN customers in the rural areas.

MTN executive, Mrs Amina Oyagbola, announced the launch of these solutions in her goodwill message at the recent first Katsina State Economic and Investment Summit 2016.

According to her, “This ICT solution can track the location of cattle, send panic or emergency alerts to the authorities in times of trouble and help with creating grazing areas separate from farmlands.

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